Rocket and Missiles Market Size

OREGAON, PORTLAND, UNITED STATES , February 5, 2024 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Rocket and Missiles Market by Speed (Subsonic, Supersonic, Hypersonic), by Product (Cruise Missiles, Ballistic Missiles, Rockets, Torpedoes), by Guidance (Guided, Unguided), by Platform (Ground, Airborne, Naval): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global rocket and missiles industry generated $54.8 billion in 2021, and is anticipated to generate $82.0 billion by 2031, witnessing a CAGR of 4.2% from 2022 to 2031.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/A09635

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

BAE Systems plc
Elbit Systems Ltd
Israel Aerospace Industries Ltd
Kongsberg Gruppen
LIG Nex1
Lockheed Martin Corporation
Northrop Grumman Corporation
Raytheon Technologies Corporation
Saab AB
Thales Group
The Boeing Company

Rockets and missiles are heavy weapon systems designed to destroy any adversary's or terrorist group's missiles or rockets, including planes, tanks, artillery, ships, helicopters, armored vehicles, and other adversaries. Furthermore, rockets and missiles are designed to deliver an explosive warhead with high speed and accuracy. Such weapons are mostly used in military activities, particularly to defend their countries from any enemy assaults. The fundamental difference between a missile and a rocket is that missiles are self-propelled.

𝐏𝐫𝐢𝐦𝐞 𝐝𝐞𝐭𝐞𝐫𝐦𝐢𝐧𝐚𝐧𝐭𝐬 𝐨𝐟 𝐠𝐫𝐨𝐰𝐭𝐡

The increase in territorial conflicts, the rise in need for advanced rockets and missiles to counter the modern combat around the country's border, and the surge in defense budget of emerging economies drive the growth of the global rocket and missiles market. However, strict regulations related to arms use & transfer and high-cost associated with rocket and missile technology are the factors that are anticipated to hamper the market growth. Contrarily, the rise in the adoption of hypersonic missile systems and the preference for automatic target recognition (ATR) missile systems present new opportunities in the coming years.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/rocket-and-missiles-market/purchase-options

𝐓𝐡𝐞 𝐜𝐫𝐮𝐢𝐬𝐞 𝐦𝐢𝐬𝐬𝐢𝐥𝐞𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on product, the cruise missiles segment held the highest market share in 2021, accounting for nearly half of the global rocket and missiles market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, this segment is projected to manifest the highest CAGR of 4.9% from 2022 to 2031, owing to rise in demand and development of cruise missiles throughout the world.

𝐓𝐡𝐞 𝐠𝐫𝐨𝐮𝐧𝐝 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on platform, the ground segment accounted for the largest share in 2021, contributing to nearly half of the global rocket and missiles market, and is projected to maintain its lead position during the forecast period. This is owing to high demand for ground-based rockets and missiles systems globally. However, the airborne segment is expected to portray the largest CAGR of 5.4% from 2022 to 2031, owing to rise in investments to develop fast and accurate air-deployed rockets and missiles globally.

𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐝𝐨𝐦𝐢𝐧𝐚𝐧𝐜𝐞 𝐛𝐲 𝟐𝟎𝟑𝟏

Based on region, North America held the highest market share in terms of revenue 2021, accounting for around two-fifths of the global rocket and missiles market. This is owing to increase in R&D activities, technological developments by key players, and rapid adoption of innovative technologies in making advanced, reliable, precise, and efficient warfare, security, and defense systems. However, the Asia-Pacific region is expected to witness the fastest CAGR of 5.5% from 2022 to 2031, owing to rise in procurement and development of advanced missile and rocket systems across several Asian nations, for instance, China, India, Japan, and South Korea.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/A09635

𝐂𝐨𝐯𝐢𝐝-𝟏𝟗 𝐒𝐜𝐞𝐧𝐚𝐫𝐢𝐨

The outbreak of the Covid-19 pandemic has had a negative impact on the global rocket and missiles market, due to nationwide lockdown that forced all rocket and missiles manufacturing facilities to shut their operations.

Disruptions in the supply chain led to sudden fall in the availability of raw materials, thereby hampering the market on the global level.

Shortage of skilled labor force was a challenge to continue production in full capacity. However, the market recovered soon in the post-pandemic.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐃𝐞𝐟𝐞𝐧𝐬𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

https://www.alliedmarketresearch.com/nuclear-missiles-and-bombs-market-A10717 - Nuclear Bombs and Missiles Market Size, Share, Competitive Landscape and Trend Analysis Report by Type (Aircraft Bomber and Land based missiles, Inter-Continental Ballistic Missile (ICBM), Submarine-Launched Ballistic Missile (SLBM), Others), by Range (Less Than 1,000km, 1,000Km to 5,000km, Greater than 5,000km), by Status (Active, Reserve and Retired): Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/chemical-biological-radiological-nuclear-cbrn-security-market-A06229 - Chemical, Biological, Radiological, and Nuclear (CBRN) Security Market Size, Share, Competitive Landscape and Trend Analysis Report by Type (Chemical Security, Biological Security, Radiological Security, and Nuclear Security), Function (Decontamination, Protection, Detection, and Simulation), and Application (Military and Law Enforcement): Global Opportunity Analysis and Industry Forecast, 2021-2030

https://www.alliedmarketresearch.com/hypersonic-missile-market-A14493 - Hypersonic Missile Market Size, Share, Competitive Landscape and Trend Analysis Report by Product (Hypersonic Glide Vehicles, Hypersonic Cruise Missiles), by Application (Wire Guidance, Command Guidance, Terrain Comparison Guidance, Terrestrial Guidance, Inertial Guidance, Beam Rider Guidance, Laser Guidance, RF GPS Reference) and by End User (Military, Civil): Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/missile-launching-systems-market-A09626 - Missile Launching Systems Market Size, Share, Competitive Landscape and Trend Analysis Report by Platform (Naval vessel-based, Ground vehicle-based, Airborne) and by End User (Army, Navy, Airforce): Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/cruise-missile-market-A10657 - Cruise Missile Market Size, Share, Competitive Landscape and Trend Analysis Report by Launch Platform (Air, Surface Combatants, Land, Submarine), by Range (Short-range Missiles, Medium-range Missiles, Long-range Missiles), by Application (Attack, Defensive) and by Speed (Subsonic, Supersonic, Hypersonic): Global Opportunity Analysis and Industry Forecast, 2023-2032

David Correa
Allied Market Research
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